- Hong Yao, Home Buyer, 11361
Thanks for the explanation! Tthat sure helps for my understanding of the process. It turns out our attorney made an error on the deed with the date. it was rejected by the county when sent in for recording. Now it has to be fixed and resubmitted. Probably takes another couple of months...
That doesn't matter, though.
The deed is the instrument that conveys title. The seller signs a document stating something to the effect of, "Hello, world! I hereby convey and warrant my interest in the property to Hong Yao in exchange for more money than I've ever seen in my life!"
Sometimes, the purchase contract will state that title transfers at a later time; this allows the seller to sign the deed a few days before the deal closes. But at that time, title transfers. Recording it is merely a matter of letting the world know that Seller no longer owns the property, and they've given their interest to You.
All the best,